The meeting was reviewing its financial activities for 2014 which coincided in the expiry of the serving period of the previous chairman, Elia Bodole and two other members of the board.
In his acceptance speech, Kazembe praised the previous team for its prudence in handling the administration of Future Sacco which has resulted in the cooperative’s recovery from negative territory.
“I would like to thank Mr. Bodole and his team for ensuring that as we close the year, our books do not reflect losses as we have been having in the previous years. I therefore promise that my team and I shall work tirelessly to encourage greater participation from members in the coming year so that Future Sacco 2015 AGM declares some dividends to its members,” Kazembe said much to the applause of the members present.
Earlier, the previous Chairman disclosed that Future Sacco promises to be heading in the right direction since many people are now joining the organisation.
“In the first 2-months of this quarter, we have seen over 60 new members joining our Sacco. This is an encouraging start and we are putting in place mechanisms to ensure that we get up to our targeted membership of 4-thousand members. Am sure the new team will work hard to realize this dream,” Bodole said.
Future Sacco membership is currently at 1148 rising from 1077 in 2013. This comprises members from 18 companies namely MBC, Manica, Open Arms, Adventist Radio, Glens, Alexander Systems, Nazarene, TNM, Chilembwe Lodge, Goal (mw), Trust Auctioneers, KK Security, Real insurance, Malamulo Mission, Valmore Paints, SOS, Link Building and Rab Processors.
Unlike the previous year, Future Sacco this time registered a positive Retained Earnings of K 154,579 from – K 6,549,611. Its total Equity and Liabilities also rose from the previous K67,910,073 to K 92,327,989 representing a positive growth of 18 percent.
Among its many other achievements in the previous year, Future Sacco today boasts of its own website www.futuresacco.com.